Academic literature on the topic 'Free trade – Mediterranean Region'

The idea that the collective regional economic prospects of the countries of a region exceed the sum of their individual prospects has attracted the attention of politicians and economists since the World War II. Its best known example has been the Treaty of Rome in the Euro-Mediterranean region, which has nearly half of the regional trade agreements in operation. GATT rules allowed the regional trade agreements so long as they promoted freer intraregional trade without raising trade barriers for the third countries. These agreements have indeed been seen as complementary to the multilateral free trade initiatives. With the advent of the WTO and the onset of globalisation, the countries categorised as fast integrators are considered to have better prospects than those categorised as slow integrators.

The Black, Azov, and Caspian sea drainages (i.e., Ponto-Caspian region) have an extensive and long history of species introductions. Here we review patterns and mechanisms of introductions of aquatic invertebrate species into these ecosystems. Since the late 1800s, 136 free-living and 27 parasitic invertebrate species have been introduced outside their native ranges and have established reproducing populations in the Ponto-Caspian region. The bulk of these introductions are represented by crustaceans (53%), flatworms (15%), and molluscs (13%). Most of the introduced species are native to other areas within the Ponto-Caspian region (37%), with other sizable contributions from the Atlantic–Mediterranean (15%) and boreal European–Siberian (14%) geographic regions. Mechanisms of introductions were dominated by deliberate releases (29%) and shipping activities (22%), with the former occurring principally in freshwater habitats and the latter in marine and estuarine ones. Other introductions resulted from unintentional release (21%) and hydrotechnical development (14%), notably the construction of reservoirs and canals. Global and regional trade, particularly that mediated by commercial ships, provides dispersal opportunities for nonindigenous invertebrates to and within the Ponto-Caspian region, rapidly changing the composition of its endemic fauna.

The European Union pays a primary attention to the development of neighbouring relations; it means the relations with countries in the immediate vicinity of its external borders. This is done for the sake of prosperity, stability and the spread of democratic values in the world. In this sense, a kind of the privileged region have always created the states of the Southern and Eastern or eventually Northern Mediterranean with which the European Economic Community began to develop cooperation immediately after its formation. Then since the mid-1990s, the EU set out a goal to create a Euro-Mediterranean free trade area and thus to move closer to the interlacing of the two entities in the form of integration. The outline of the process of development of Euro-Mediterranean relationships (including the changes of bilateral approaches and the conditioning factors) is the objective of this article. It is divided into three sections, which cover different stages of the development of these relationships over time and escalate in terms of two-way approaches to a new quality of cooperation (including the three stated research questions). The result of these relationships could become a Euro-Mediterranean Alliance that is outlined as a differentiated form of multilateralism in the conclusions of the paper.

AbstractChickpea is one of the most important legume crops in the Mediterranean semiarid regions. Soils of these regions generally have free CaCO3, high pH and low organic matter, which reduce the availability of micronutrients and cause their deficiencies. In order to study the effects of integrated application of different level of elemental sulfur (0, 15, 30 kg·ha−1) and nano-chelated micronutrients (Zn, Fe, Mn) on growth and agro-morphological traits of chickpea (Cicer arietinum L.), a field experiment was conducted in the semiarid regions of the northwestern part of Iran. Evaluation of morphological traits showed that application of high level of sulfur significantly improved plant height, the number of primary branches and canopy width compared to the control. The longest growth period was recorded for plants grown by application of high level of sulfur and nano-chelated Zn fertilizer. The obtained data revealed that application of nano-chelated Zn fertilizer resulted in a significant increase in seed number per plant and seed weight compared to other nano-micronutrient fertilizers. Overall, the best growth performance and the highest seed yield were obtained from the integrated application of Zn and high level of sulfur. The findings showed that soil micronutrient deficiencies are partly due to high alkalinity of the soil, and application of sulfur beyond 15 kg·ha−1 can be an effective method to increase the efficacy of nanofertilizers. Integrated application of micronutrient and sulfur should be considered as an efficient agronomic management option for chickpea production systems in semiarid region.

Abstract. A 5 weeks experiment (1 June to 5 July 2000) took place at a mountain site, Mt Cimone (44°11' N, 10°42' E, 2165 m a.s.l.), that is representative of Southern Europe background conditions. During this field campaign, a comprehensive characterisation of trace gases and radicals, involved in the production and destruction of O3, as well as of chemical, physical and optical properties of the aerosol was done. Atmospheric gases and aerosols were measured continuously over the 5 weeks period, in order to characterize their background concentrations in the free troposphere and their respective differences in air containing dust aerosols advected from Africa. Due to its location and elevation, Mt Cimone gets free tropospheric air both from the Mediterranean and from the Po Valley, which makes it an invaluable place to study gas/aerosol interactions. A global chemical model coupled to a GCM was used to simulate based upon ECMWF reanalysis the ozone over the region during the period of the field study. The heterogeneous reactions of O3, N2O5, HNO3 and NO3 were accounted for. We estimate that during the field campaign, the effect of heterogeous reactions was to reduce by 8 to 10% the ozone concentration at MTC in cases when air had passed over the Mediterranean Sea. When air was coming from the Atlantic or continental Europe, the reduction of ozone is still 4%. This reduction is mostly due to the large uptake of HNO3 and is the the topic of ongoing work to assess how it affects the global cycle of O3 and the global nitrogen budget.

Abstract. In this paper, we analyze the performance of the Infrared Atmospheric Sounding Interferometer (IASI), launched in October 2006 on board METOP-A, for the monitoring of carbon monoxide (CO) during extreme fire events, focusing on the record-breaking fires which devastated thousands of square kilometers of forest in Greece during the last week (23–30) of August 2007. After an assessment of the quality of the profiles retrieved using the Fast Optimal Retrievals on Layers for IASI (FORLI) algorithm, the information provided on fire emissions and subsequent pollution outflow is discussed. Large CO plumes were observed above the Mediterranean Basin and North Africa, with total CO columns exceeding 24×1018 molecules/cm2 and absolute volume mixing ratios up to 4 ppmv on the 25 August. Up to 30×1018 molecules/cm2 and 22 ppmv in the lower troposphere are retrieved close to the fires above the Peloponnese, but with larger uncertainty. The average root-mean-square (RMS) difference between simulated and observed spectra is close to the estimated radiometric noise level, slightly increasing (by ~14%) in the fresh fire plumes. CO profiles are retrieved with a vertical resolution of about 8 km, with ~1.7 pieces of independent information on the vertical in the region considered and a maximum sensitivity in the free troposphere (~4–5 km). Using the integrated total amount, the increase in CO burden due to these fires is estimated to 0.321 Tg, ~40% of the total annual anthropogenic emissions in Greece. The patterns of these CO enhancements are in good agreement with the aerosol optical depth (AOD) retrieved from the MODIS measurements, highlighting a rapid transport of trace gases and aerosols across the Mediterranean Basin (less than one day). While the coarse vertical resolution will not allow the location of the exact plume height, the large CO enhancements observed in the lower troposphere are consistent with the maximum aerosol backscatter coefficient at ~2 km detected by the CALIPSO lidar in space (CALIOP).

Abstract. In this paper, we analyze the performance of the Infrared Atmospheric Sounding Interferometer (IASI), launched in October 2006 on board METOP-A, for the monitoring of carbon monoxide (CO) during extreme fire events, focusing on the record-breaking fires which devastated thousands of square kilometers of forest in Greece during the last week (23–30) of August 2007. After an assessment of the quality of the profiles retrieved using the Fast Optimal Retrievals on Layers for IASI (FORLI) algorithm, the information provided on fire emissions and subsequent pollution outflow is discussed. Large CO plumes were observed above the Mediterranean Basin and North Africa, with total CO columns exceeding 30×1018 molecules/cm2 and absolute volume mixing ratio up to 22 ppmv. The average root-mean-square (RMS) difference between simulated and observed spectra is close to the estimated radiometric noise level, slightly increasing (by ~14%) in the fresh fire plumes. CO profiles are retrieved with a vertical resolution of about 8 km, with ~1.7 pieces of independent information on the vertical in the region considered and a maximum sensitivity in the free troposphere (~4–5 km). Using the integrated total amount, the increase in CO burden due to these fires is estimated to 0.321 Tg, ~40% of the total annual anthropogenic emissions in Greece. These CO enhancements are in good agreement with the aerosol optical depth (AOD) retrieved from the MODIS measurements, highlighting a rapid transport of trace gases and aerosols across the Mediterranean Basin (less than one day). While the coarse vertical resolution will not allow the location of the exact plume height, the large CO enhancements observed in the lower troposphere are consistent with the maximum aerosol backscatter coefficient at ~2 km detected by the CALIPSO lidar in space (CALIOP). This indicates that the general level of transport can be derived (lower, middle or upper troposphere) but that it needs to be accompanied by a systematic confrontation with sensitivity profiles and boundary layer height.

La tesis pretende analizar aspectos relacionados con la integración de los países mediterráneos en el contexto económico internacional, aspectos que resultan de especial interés para esta región puesto que son claves para su desarrollo económico, su estudio es particularmente relevante para evaluar las políticas llevadas a cabo, así como para rediseñar aquellas que no están siendo todo lo efectivas que se preveía. En un primer lugar se analizan el impacto que han tenido los acuerdos de libre comercio celebrados por diez países del Norte de África y Oriente Próximo sobre su comercio exterior, con el objetivo de comparar los efectos de una mayor integración Sur-Sur con una vinculación más estrecha con los mercados del Norte. Se diferencia entre productos industriales y agrícolas, ya que permite llevar a cabo un estudio más profundo y especifico del contenido de dichos acuerdos. Los resultados muestran que la integración entre países árabes está generando ya resultados positivos, en particular el acuerdo GAFTA está intensificando el intercambio bilateral entre los países miembros. Esta apuesta hacia una mayor integración árabe representa una nueva oportunidad para muchos países y puede servir de puente para promover el dialogo y establecer nuevas oportunidades en la región. Sin embargo, los acuerdos Norte-Sur celebrados no han ayudado a incrementar en la medida esperada las exportaciones entre ambas regiones. En el caso del acuerdo de libre comercio con la Unión Europea, los resultados muestran que se han obtenido mejoras en las exportaciones de la UE hacia la región MENA, pero no en sentido inverso, en línea con lo que obtienen estudios anteriores. Lo novedoso de nuestros resultados aparece con el acuerdo firmado entre Estados Unidos y Jordania y entre Estados Unidos y Marruecos, dicho acuerdo muestra un efecto positivo para las exportaciones de ambos países incluidos para el caso de los productos agrícolas. Así pues, de los resultados empíricos obtenidos se extrae que los países de la cuenca sur del Mediterráneo deberían considerar una estrategia de negociación en la liberalización de su comercio que concentre la misma en aquellos productos donde su competitividad es mayor. Ello requerirá un mayor equilibrio en la articulación de dichos acuerdos, en los que la producción agrícola e industrial configure un patrón sectorial de exportaciones acordes con su estructura productiva. Del mismo parece razonable apostar por una mayor integración intra-árabe, a pesar de las dificultades evidentes que esto conlleva, especialmente en un contexto político y social tan turbulento como el actual. Otro aspecto analizado es el papel que tiene el comercio internacional en la competitividad de las empresas. Tal y como se ha desarrollado en el segundo capítulo, entender las estrategias de internacionalización de las empresas es de particular relevancia, en especial si se quiere diseñar políticas efectivas que sirvan de apoyo a las industrias nacionales. En el estudio llevado a cabo se ha analizado la relación existente entre las actividades de importación y exportación de las empresas manufactureras egipcias. Los resultados muestran que las empresas cuando exportan o importan mejoran su competitividad y alcanzan un mayor tamaño en comparación con las empresas que únicamente operan en el mercado nacional. Se observa igualmente un alto grado de histéresis, donde el posicionamiento previo en los mercados internacionales explica una buena parte de la actividad internacional actual, en este sentido si la empresa tiene experiencia exportadora en los años anteriores, esto afectará de forma positiva a que la consolide en la actualidad y lo mismo ocurre para el caso importador. Con los datos y análisis realizado en este segundo capítulo no podemos establecer un nexo de causalidad entre ambas actividades dejando esto para futuras líneas de investigación, aun así se constata que los costes hundidos para las importaciones son mayores que los que se deben hacer frente para la exportación. A pesar de que este resultado parece poco intuitivo ante la lógica del comercio internacional donde la actividad de exportación aparece como algo más costoso para las empresas que la importación, para el caso concreto de Egipto parece tomar sentido desde un punto de vista donde las exportaciones de las empresas del país se han liberalizado completamente desde la entrada en vigor de los acuerdos de libre comercio mientras que la liberalización de las importaciones se ha producido de forma progresiva. Un análisis más exhaustivo resulta necesario para llegar a resultados más concluyentes, aun así parece tener solidez la argumentación de que las empresas que se incorporan en el comercio internacional aprovechan dicha apertura y las relaciones comerciales que esto conlleva para desarrollar operaciones en ambos sentidos. Después de analizar en los capítulos anteriores aspectos relacionados con el comercio internacional, consideramos necesario abordar cómo el entorno político-institucional está influyendo sobre el comportamiento de las empresas en la región. En el tercer y último capítulo se analizan los obstáculos a los que las empresas egipcias han tenido que hacer frente en los años anteriores a la revolución. De los resultados obtenidos se constata que el acceso y coste a la financiación, los altos impuestos, el precio de la tierra, la situación de inestabilidad política o suministros básicos como el agua o la luz son los principales obstáculos para llevar a cabo la actividad empresarial en Egipto, especialmente en el caso de las empresas más pequeñas y que no cuentan con capital extranjero. En términos de política económica las conclusiones parecen evidentes, se hace indispensable una estrategia de mejora en las infraestructuras básicas como el agua o la electricidad y de la modernización del sistema fiscal, así como del sistema financiero, con los efectos positivos que esto supondrá en términos de financiación empresarial donde los resultados a medio y largo plazo serán un incremento de la competitividad empresarial que favorecerá el crecimiento económico y la generación de empleo. En definitiva los estudios llevados a cabo y que configuran el núcleo de esta tesis doctoral pretenden analizar y evaluar la integración de los países del Norte de África y Oriente Próximo en el contexto económico internacional y examinar aspectos clave para la mejora de la competitividad de las empresas de la región, concretamente centrando los dos últimos capítulos en Egipto, debido al interés que despierta el país por la situación política actual.

It is a standard result of economic theory that free trade maximises global efficiency in a distortion-free world. Over the last two decades countries have made great efforts to liberalise their trade in order to facilitate economic growth through integration in the global economy. Turkey is one of these countries whose international trade plays a significant role in her economic development. Over time, trade increasingly links countries in the Mediterranean region and the trade policy debate is dominated by the regional trade negotiations between the European Union and the ‘Mediterranean Partner Countries’ (MPCs), known as the Union for the Mediterranean. Agriculture is a crucial sector in this region. Unlike manufactured goods, agricultural products have often been only partially integrated into regional trade agreements, due to the high level of protection afforded to them. Agriculture in Turkey holds the promise of making a major contribution to Turkish economic development, with the agricultural trade balance being significantly positive. Turkey is a large and important country in the region and a potential full member of the European Union. This research explores the determining factors of Turkish agricultural export flows to the Euro-Mediterranean countries. The thesis employs the most recent econometric methods in estimating a gravity model and the analysis uses panel data covering the period 1969-2010 for 30 Euro-Mediterranean countries. In addition to performing traditional linear methods, panel unit root and cointegration tests are conducted to examine the likely long run relationship between determining factors and agricultural export flows. The results demonstrate that, as expected, Turkish agricultural exports are positively influenced by economic size and negatively affected by geographical distance. The results also indicate that Turkish agricultural exports to the Euro-Mediterranean countries are positively associated with being a member of a free trade agreement, although this is statistically insignificant. The main inference of the findings is that they do not support the notion that free trade agreements between Turkey and the Euro- Mediterranean countries boost the agricultural exports of Turkey. Comparing the results between the standard panel data estimator and panel cointegration estimators show that there is little difference between them.

The main question of this thesis originated from the following observation: during the reign of Sultan Abdülhamid II (r.1876-1909) - especially after the 1880s - the German armament firms (GAFs) obtained a monopoly position in the Ottoman military market and maintained their position for decades. Based upon this observation the question of this thesis is: How did the Germans manage to get this status and protect it for decades, in particular, in a quite competitive market, where the American, British, and the French firms had been dominant for years? This thesis, which has fundamentally relied on multi-national archival research, does not seek the answer with reference to the ordinary theory of supply and demand but in the realm of the inter-personal relations and the personal influence of some influential personalities/statesmen who somehow intervened themselves into the war business from both sides (i.e. the Ottoman Empire and Germany). In the line with this argument, the principal aim of this thesis is to examine the impact of the non-commercial factors of the arms trade on the GAFs’ successful war business in the Ottoman military market. For that purpose throughout the dissertation the acts and doings of Bismarck; Kaiser Wilhelm II; Von der Goltz Pasha and the other German military advisors who were employed in the Ottoman Army; Sultan Abdülhamid II and the Ottoman bureaucrats/officers will be discussed within the context of their contribution to the German armament firms’ successful war business in the Ottoman market.

In the past two decades, as regional free trade agreements prevailed between states and governments, there is an imperative need for the concerned trade control authorities to minimise non-tariff trade barriers. Trade facilitation policy becomes one of the essential tools to enhance the competitive strength of a state in the global market. As the common yardstick adopted to assess policy effectiveness, the global trade efficiency indicators seem to reflect that state-level trade facilitation policies may not be generating the expected results. Not only the validity of such indicators have been challenged by some scholars, their application in port-level studies are also questionable. This project develops an evaluation framework that consists of a qualitative and a quantitative assessment tool to evaluate port-based trade facilitation policies. The qualitative analytical instrument examines how trade facilitation measures affect port-based supply chain. The quantitative survey tool measures the extent of these policies may impact on the supply chain activities of port-related firm, infrastructure, and institutional stakeholders. The evaluation framework is applied to investigate the effects of trade facilitation policies on hub ports of the Pearl River Delta (PRD) region. Such framework not only provides an instrument to measure policy impact, but also illustrates how a trade facilitation programme may affect the competitiveness of port supply chain. The qualitative tool by adopting multiple supply chain perspectives, contributes a consistent and comprehensive assessment method for trade facilitation studies to extend the research scope to port level. The quantitative instrument provides a mechanism that could facilitate an accurate measurement of the trade facilitation policy impacts not only in a single port but also in a networked ports' environment.

This thesis set out to ascertain the position of recent Australian Governments on the latest instalments of Asian regionalism in the context of an assessment of whether there has been a redefinition of Asia and thus a redefinition of Australia???s engagement with Asia. It will concentrate on the broad themes of politico-strategic and economic engagement. Whilst there has been extensive research and documentation on the Asian economic crisis there has been less work on the issue of a new Asian regionalism and the implications for Australia???s complex and variable engagement with the region. This is the basis for the claim to originality of this thesis, a claim supported by its focus on the practical and policy implications of Australia???s engagement, or lack of it, with regional institutions. The process of regional integration has been extremely slow, thus supporting the conclusion that there is no evidence of a major redefinition of Asia. Efforts at Asian regionalism are meeting obstacles that pose immense challenges. Asian regionalism remains nascent and poorly defined. This reflects the diversity and enormous disparities in cultures, political systems and the levels of economic development and differences over economic philosophies within East Asia. What is discernible is that the regionalism is proceeding more rapidly on financial issues than on trade, and in the security area it is conspicuously absent. This research highlights the fact that the question of Asian engagement remains a sensitive issue in Australia and continues to grow more complex. Australia???s engagement with Asia since 1996 has been variable because of the Howard Government???s broader balance of priorities between global and regional issues, and because of the changing nature of the Asian region. The perception gleaned from sources is that, for the Australian Government, regionalism initiatives are characterised by much discussion but lack substance. Consequently, this appears to have led the Government to the position that exclusion from some manifestations of regionalism is not so important. Australia is excluded from some of the regional architectures being constructed. In its efforts to seek inclusion in ASEAN + 3 and ASEM, Australia is facing the same barriers that have stood in the way of an AFTA-CER agreement. Exclusion would be important if the performance of regional groupings was not so indifferent. Exclusion from ASEAN + 3 and ASEM, however, does not equate to Australia???s exclusion from the region.

Avec les accords euro-méditerranéens d’association, les pouvoirs publics algériens sont appelés à respecter les engagements internationaux et régionaux qui en résultent. Il s’agit en particulier de mettre en conformité les administrations fiscales et douanières. En effet, les transformations économiques et juridiques que produit la mise en place de ce genre d’accord d’association interpellent notamment les législateurs algériens pour entreprendre des réformes fiscales et douanières qui s’imposent par la libéralisation des échanges. L’objectif est donc de rapprocher le droit fiscal et douanier de l’Algérie avec les législations en vigueur dans les Etats de l’Union européenne et plus généralement euro-méditerranéens. C’est dans ce cadre que notre sujet se propose d’approcher et de débattre la réforme fiscale et douanière en Algérie. Pour cela, ce travail débute par une réflexion sur cet accord d’association, qui passe par l’évolution des relations entre l’Algérie et l’Union européenne. Puis nous abordons plus précisément la question des réformes fiscales et douanières en Algérie dans le cadre de cet accord d’association. Pour terminer nous traitons de l’importance de la bonne gouvernance financière dans le cadre de l’intégration régionale
With the Euro-Mediterranean Association Agreements, the Algerian authorities are required to comply with the resulting international and regional commitments. This concerns in particular the conformity to the tax and customs administrations. In fact, the economic and legal transformations implemented by such an association agreement demand the Algerian legislators to undertake fiscal and customs reforms required by trade liberalization. The goal, therefore, is to bring the Algerian tax and customs law closer to the laws in force in the European Union states and more particularly in the Euro-Mediterranean ones. It is in this context that we aim through our subject to approach and discuss tax and customs reform in Algeria. For this, the work begins with a reflection on the Association Agreement, achieved through the development of relations between Algeria and the European Union. Then, we tackle specifically the issue of tax and customs reforms in Algeria on the occasion of the Euro-Mediterranean agreements. Finally we discuss the importance of good financial governance in the context of regional integration

Abstract The REPA spatial price equilibrium model developed in Chapter 4 is used to investigate the regional welfare impacts of a quota on exports of Canadian softwood lumber to the U.S. In the model, Canada is divided into seven regions and the U.S. into five regions, with the rest of the world constituting a 13th region; the model is calibrated to the bilateral trade flows that existed in 2016 when there was free trade in lumber. Various quota levels are examined in terms of their impact on producers and consumers in both countries. Canadian producers are found to be better off with a hard quota compared with free trade, although the quota leads to a reduction in market share while driving a wedge between Canadian and U.S. prices, both of which are aggravated with harder quotas. Overall, the loss of export sales to the U.S. is not recouped with sales to the rest of the world. The REPA model is also used to examine the impact of EU demand for wood pellets to generate electricity. Results indicate that pellet prices will approximately double.

Abstract The REPA spatial price equilibrium model developed in Chapter 4 is used to investigate the regional welfare impacts of a quota on exports of Canadian softwood lumber to the U.S. In the model, Canada is divided into seven regions and the U.S. into five regions, with the rest of the world constituting a 13th region; the model is calibrated to the bilateral trade flows that existed in 2016 when there was free trade in lumber. Various quota levels are examined in terms of their impact on producers and consumers in both countries. Canadian producers are found to be better off with a hard quota compared with free trade, although the quota leads to a reduction in market share while driving a wedge between Canadian and U.S. prices, both of which are aggravated with harder quotas. Overall, the loss of export sales to the U.S. is not recouped with sales to the rest of the world. The REPA model is also used to examine the impact of EU demand for wood pellets to generate electricity. Results indicate that pellet prices will approximately double.

Abstract This chapter discusses the reign of the Eastern Roman Empire as well as the state of the international trade during its golden era. It consists of thirteen subchapters which are about the Shift of Roman Power, the rule of Constantine, the drastic transition of world trade after the fall of the West Roman Empire, the exotic luxuries of Byzantium, the golden age of the Eastern Roman Empire under Justinian, Byzantine attitudes about trade. Trade in the Byzantine world was highly regulated by the state, the empire was essentially a huge trading organization. It continues with the subchapters, The Dollar of the Middle Ages, Trading with the Enemy, Aksum and Byzantium's Indian Ocean Connections, Christians Surrounded by Muslims, The Secret of Silk Escapes, which is about the mid-sixth century when most silk found its way to Europe through the Silk Routes across China and the northern steppes of Central Asia, the Justinian's Plague that spread along the great trade routes, emerging first in China and north-east India, travelling to Ethiopia, moving up the Nile to Alexandria and then east to Palestine and across the entire Mediterranean region, and lastly, The End of the Red Sea Portal. Some 1000 years of Greek and Roman rule over Egypt had ended and with it the Red Sea link of Europe with the Asian spice trade.

The cities in the fortifications: the Ionian islands in Greece. Knowledge and enhancement of a heritage Residing in the Mediterranean Sea, Ionian islands signify the passage from the west to the east. A constantly sought-after region due to the trade routes, was for a long time garrisoned and under the authority of the Venetian Republic (fourteenth-eighteenth centuries) that hindered with its fleet the Turkish invasions. The bigger islands that constitute the cluster of the Eptanisa: Corfu, Lefkada or Santa Maura, Ithaka, Kefalonia, Kythira, Zakinthos and more, that had strategic positions with respect to the usual routes, had since the middle ages fortifications like walls, towers and castles, that over the time were expanded and restructured by the Venetians in order to defend those islands from the enemy attacks. The rich iconographic historic material, considering the Ionian Islands, allows to document the characteristics of those wide spread defensive structures and to identify each strong part of this big and unique fortification cluster. It has to be noted that every one of those structures gives us clues about the urban history of the city it resides since they were part of the urban landscape revealing this way the urban layout. The compelling story of the architectural consistency of those fortresses, as it is described in the historic documents, cannot be always verified. Many of those structures are nowadays completely destroyed and only a few remains are left. There are many ways to organize a project for saving those structures and in particular one that will be related with the cultural tourism.

It was not only Turkish history to be changed when Seljuk conquered Anatolia but also the destiny of Anatolia changed. Anatolia that was the center of east – west and north – south trade since Assyria trade colonies was lost its commercial importance during the conquer by Turks, long time ago. Before Seljuk, the region was a part of the Byzantine Empire and it lost its commercial activities. It was a long time for Seljuk to revitalise the Anatolian trade. The war in Myriokephalon reduced the problems of Turkish Seljuk and enabled the establishment of a strong state in Anatolia. Myriokephalon War deeply impacted Byzantine and the Seljuk Sultan Kılıç Arslan focused on to develop the economy of the county and made very important achievements. He was the first who tried to conquer Antalya that is a port city. Kılıç Arslan and succeeding Sultans of Seljuk State followed the same path. Izeddin Keykavus conquered Sinop. Alâeddin Keykubâd conquered Alanya, so Seljuk had its third port city. The volume of domestic and international trade of Seljuk made it very powerful economy of the region. In this study, the factors which made for Seljuk to conquer these port cities in the Black Sea and Mediterranean easy, and the contribution of maritime trade to Seljuk economy, with reference to the sources form the era.

Eastern Liguria, a sometimes harsh and inhospitable place, encompasses some of the most beautiful landscape realities of the region, thanks to the presence of the sea and of an unexpected scenery. In some cases, land and water are connected, clearly showing the challenges that Man had to face in order to dominate Nature. In these cases, these forms of anthropization can turn their constraints into potentials. In this context, in a gulf such as the one between Rapallo and Portofino, outposts arose as observers to protect the neighboring territory, characterized by docks and, consequently, a suitable area for trade and for pirate incursions. For these reasons, military-style architectural structures arose, both defensive and of sighting, depending on the building site, then, in the sixteenth century coordinated and transformed into a real defensive system, by the will of the Republic of Genoa. Here, then, we can find the castle of Rapallo, the tower of Saint Michael of Pagana, the Castle of Santa Margherita, the Castle of Paraggi and finally that of Portofino, each one with its own identity and events, but connectable to the others, if only for the territorial belonging to an extremely particular site as for organicity and homogeneity. This is what the study of the Castle of Paraggi underlines, as it was built on the cliff overlooking the sea that has enjoyed a “double life” based on highlighting the latent diametrically opposed potential: born for the defense of the land from sea incursions, later on it was converted into a residence, conceptually transforming its position from a dominating into a reserved one, from an outpost on the sea clearly visible, to a place hidden on the land, from public to private. Over the centuries, the change in the function and life of the castle, has therefore been introducing changes to the facies and the composition of its appearance through the different stages of its evolution.

Kyrgyzstan has become an attractive market because the country has a central location in Central Asia and kept pace with the free market faster than other countries in the region. Since Kyrgyzstan is a member of the World Trade Organization country become more important than the other countries in the region. In this study the recent history and the development of foreign trade relation between Turkey and Kyrgyzstan and the problems encountered in this relation are considered. Despite the growing trend of bilateral trade and economic relations since the early 90s, contraction experienced in the trade volume in 1998 and 1999 depending on the Russian crisis. Since the early 2000s, again the increasing trend of economic relations was observed. In this context by examining the trade relations between the two countries, the trade relations between the two countries are discussed and problems that encountered in the development process of the relations are investigated and solutions suggested.

This paper aims to assess economic convergence in the BIMSTEC organization initiated by seven South and SouthEast Asian countries. Its current state of growth is compared with empirically formulated growth model to determine its institutional efficiency i.e., strong or weak. GDP growth is considered proxy for economic security to analyze the result of the crossborder economic integration. The analysis covers the period of 19982018, a time series interval of 21 years. Linear regression equation shows the existence of convergence and convergence among the countries however, the organization has faced uncertainty and low significance on its economic effectiveness due to increased militant insurgencies in the region and other laggard policy implications. In sum, the main findings of this paper highlight (i) implications of opening crossborder trade routes through free trade agreement and (ii) existence of economic convergence in the member states. This therefore facilitates better trade, increased employment, tourism, investment and other macroeconomic successes within the bordersharing Asian neighbors.

With the dissolution of Soviet Union, former Soviet Republics’ central planned economy transformed into free market economy and structural reforms were made as parallel of this development. These former socialist countries have some diffficulties to adopt capitalism due to absence of some fundamental feautures of capitalism and inheritance of Soviet Union. Ending big threat of communism, the jeo-strategical importance of the region increased for the West because these countries own the oil and gas resources besides they are starting point or transit country of the energy pipelines. However, these transition countries could not develop economically and poverty became the major problem for most of Central Asian and South Caucasian Turkic Republics. As economic problems lead weakness of governance, ethnical conflicts and border conflicts threat these new independent countries. The region seems in the center of war for power due to rich natural resources and pipelines as well as the connection point to Afghanistan and being the exit to the Black Sea. This paper seeks economic situations of Central Asian and South Caucasian Turkic Republics which jeo-strategical importance increased due to natural resources and geographic location during Post Cold-War era. This work is based on statistical data provided by United Nations Commodity Trade Statistics Database (COMTRADE), United Nations Conference on Trade and Development (UNCTAD) and International Monetary Fund (IMF), covering the period of 1990-2008 and contains Azerbaijan, Kyrgyzstan, Kazakhstan, Turkmenistan, Uzbekistan, Tajikistan.

Central Asian Countries decolonized by break up of USSR, struggle with the important and unsolvable problems during the process of transition from an implicit and statist economic system to the capitalist system. Although 20 years have passed, the liberal countries adopted the free market economy, face the big handicaps in the transition process of their economic system to the modern capitalist system. I have been in these territories in the transition process from socialist system to the capitalist system. So I am sure that the field of tourism, trade, industry, agriculture and service has the important role in the development planning of the countries. In this study I will try to emphasize the significance and necessity of political stability and social peace and comfort to the development of tourism and trade. My former studies focused on some countries of the Central Asian Countries, had got great attention in the international congresses. Now I will try to review the importance of tourism and trade in the development of Kazakhstan, Turkmenistan, Kyrgyzstan, Uzbekistan and Tajikistan, and necessity of political stability and the advantages and disadvantages of these countries in this way. Naturally underground and over ground treasures, geopolitical, geostrategic, geo-economic positions, political systems, social structures of this region and regional balances affect directly or deviously the political stability of above countries. In this study I will try to offer suggestions in view of the fact that these interactions.

Abstract In this paper, a boundary element method (BEM) is applied to a tip loaded propeller (TLP) to predict its open water characteristics and induced hull pressures under fully-wetted and uniform inflow. Tip of a TLP blade has a winglet-like tip plate on the pressure side to improve the overall propeller efficiency over the traditional open tip propellers by preventing circulation loss toward the tip region. TLPs are also used to reduce the tip vortex strength and thus free from the trade off the propeller efficiency against the cavitation performance; therefore, predicting their performance early in the designing stage via numerical applications can provide the initial knowledge on the loading distributions and cavitation performance. In the present method, the trailing wake is first aligned using the full wake alignment (FWA) scheme by aligning the wake surface to the local stream in order to satisfy the force free condition. The FWA is shown to improve the open water characteristics of the TLPs compared to the simplified alignment scheme that ignores the details of the flow behind the trailing edge due to the simplicity of the method. Afterwards, a pressure-BEM solver is used to solve for the diffraction potentials on the hull and estimate the propeller-induced hull pressures. In this case, both the FWA and the unsteady wake alignment scheme (UWA), which considers the time dependency of the problem, produce the same results as the testing flow is assumed to be uniform. This paper briefly introduces the model TLP, proper ways to consider the viscous effect on the blade surface, wake alignment scheme, and the pressure-BEM solver. Then, the predicted open water characteristics of the benchmark TLP and its induced hull pressures are compared to the experimental data, as well as the results from unsteady full-blown Reynolds-Averaged Navier-Stokes simulations for validations of the numerical predictions.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.